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What is Account receivable & Account payable ?
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Answer Posted / nagarajan
Accounts receivable is amount due from the debtor for the
goods or services rendered to them by us.
Accounts payable is the amount payable to the creditor for
the goods or services rendered by thm to us.
It appears on Balance sheet,
Accounts payable - credit side
Accounts receivable - Debit side
| Is This Answer Correct ? | 16 Yes | 3 No |
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